motion shooting on our. this is our t. you're just in time for a recap of our headlines hundreds of n.t.l. searching protesters gather in madrid just a day after a nationwide demonstrations against e.u. impose cuts the outpouring of anger was bought by prime minister enjoys announcement that an additional sixty five billion euros would be slashed from the budget and. syria is engulfed in violence with fierce battles raging across the country between government forces and rebel fighters reports claim july has been the bloodiest month all the conflict so far this as a u.n. security council agreed to extend the observer mission to the country thirty days. plus a trigger happy tourism

a new attraction for visitors to israel spots fears it promotes a negative perception of the country critics say is cashing in on the country's troubled security situation. coming shortly max and stacey discuss the latest market manipulation tactics on kaiser report states. yes i want to talk about the word you know the n. word people think back to the civil rights movements they think about discrimination and today we have a new discrimination a new division in society but it's not about putting people in the back of the bus it's not about. people suffering from apartheid in south africa it's

about interest rates so if you're mark zuckerberg for example the cost of borrowing on your mortgage is one percent. if you're part of the new n word part of the new and we're you're part of the new and we're then our cost of funds is twenty percent . if you're mark zuckerberg what you get on your savings or on your investments training and inside information market manipulation you can expect twenty twenty five percent of us the new n words what do we get we get zero percent and this is the new discrimination this is the new apartheid it's down along lines of the interest rate curve and it is impoverishing this generation and obliterating savors workers and pensioners by design using not political jerram entering or discrimination but interest rates and this is what does live or scandal is all about in all the interest rate scandals are all about

what the bank of england all about what the subtle banks are all about what the banks and wall street are all about about discrimination using interest rates to disenfranchise an entire generation and go back to new feudalism or the old through the ism called neo feudalism stacey where the n word you're talking about is of course nerk negative interest rate policy and we see that around the world we see negative interest rates in germany negative interest rates in switzerland in finland in in denmark you know it's everywhere right desson attack on savers by going into negative interest rates that you actually have to pay the bank money to hold onto your funds and you get less back at the end of one year or two years that's a vicious orchestrated attack using financial weapons play mansel terrorism which again is rearing its ugly head throughout this week's news cycle once again we see financial terrorists in the news well. we see them in this first headline here max pair hired to clean up irish banks named in u.s.

scandal the us scandal is actually the us crime that h.s.b.c. committed of laundering money for the various terrorist groups and and cartels around the world the government of ireland faces huge embarrassment today oh we're so barest we've hired some financial terrorists. after two key figures appointed to help clean up the irish financial system were named in an explosive u.s. investigation into global banking giant h.s.b.c. chairman of state owned a i b david hodgkinson and michael noonan's top nama advisor michael gagan are both named to the three hundred thirty page report that follows an investigation into h.s.b.c. by a us senate subcommittee set up in the wake of the nine eleven terrorist attacks in new york right after nine eleven and of course probably just b.c. . bankers working in the twin towers financing terrorists quote unquote that in

turn came down and not those building down and killed the edges be backers but funded by their own choice to buy their own puts our funding they fun of the variax that destroyed them that's why i say it's a misnomer to say that everyone perishing that day is quote unquote innocent a lot of those bankers were financing the saudis who ended up coming back and attacking the towers and is that poetic well i leave it up to history to decide well after the suicide bombing in damascus this week donald rumsfeld former. minister in his office praised it they say he called it a martyr event he said this is the first suicide bombing we should call a martyr event so the same thing could be said if you look in the treasury department are they saying these sort of suicide bombings are ok that these sort of you know reckless destroying of the global economy is is a martyr vent bob diamond is a suicide banker jamie dimon is

a suicide banker lloyd blankfein is a suicide banker they want to blow themselves and their institutions up in the name of an ideology market fundamentalism with the pre sept of infinite growth and to obliterate millions using interest rate apartheid that's their ideology their terrorist. it's well in fact max it's just a little game apparently according to this story h.s.b.c. is accused of playing fast and loose with the u.s. banking rules now any normal person ninety nine point nine nine nine nine nine nine percent of you out there if you played fast and loose with banking rules believe me you would be in jail for thousands of years in some cases right well it just means they were laundering money for a drug cartel in mexico. also remember walk over here now part of wells fargo they

were caught with laundering four hundred billion dollars from mexican drug cartels they they didn't deny it they paid a small fine edges b.c. will pay a small fine and there's and they're financing saudis to commit acts of terror and then america spends money on the war on terror so the same words get penalized twice they get tax to pay for the war on terror they get the same banks that are being subsidized by the government which is in league with the bankers in league with the terrorists to finance confiscation of wealth using interest rate apartheid and they wonder why there's a revolution brewing so h.s.b.c. is accused of playing fast and loose with u.s. banking rules between two thousand and four and two thousand and ten by u.s. senator carl levin a key ally of u.s. president barack obama who chaired the team that published report top nama advisory michael gagan was h.s.b.c.'s most senior executive for almost the entire period now under investigation the current chairman was the bank's chief operating officer between two thousand and six and two thousand and eight and before that ran its middle east business so these two men are in charge now of cleaning up the irish

financial system which was more than any other situation in europe was a financial crime scene and they brought in two of the capital to cap o's involve the one of the biggest crimes here at h.s.b.c. was engaged and they're supposed to be cleaning up this mess right but they're real risk of. lowing themselves up and the people around them because they also finance terrorists as we know from the h.s.b.c. case so don't go into any airplanes with bankers if you see a banker going on an airplane you'll see them with a briefcase and gucci loafers ok those are the terrorists don't get on that claim well all these rescinded a base criminal's banking criminals operate out of london grim britain where problem families cost taxpayers up to two hundred fifty thousand pounds and max we're not talking about the families of those crime families of the diamonds in the greens of the world no we're talking about the poor people the country's most

troubled families will be forced to undergo a ten thousand pound program to break the cycle of their dreadful backgrounds as it has emerged one problem family had cost the council two hundred fifty thousand pounds so the respect tsar louise casey says we have looked at a little bit of britain which is grim which is stark this hasn't sadly come overnight this is gone through generation after generation i don't think this has to happen in society for the families who had to live next door to them to the teachers who have to teach their kids in the school to the people who are the victims of crime we can't let them continue like that financially we can't carry on as we are there is a huge financial problem hidden in the middle of all of this yeah so they put them in the ghetto and then they scapegoat the people in the ghetto or they get the word armband sume. well the government of the u.k. is going to spend up to four thousand pounds for family and they're basically going to train them to be forget their dreadful backgrounds as they call them their their

dreadful backgrounds but we're four thousand pounds of family as i explained last week for four hundred pounds of family you can give them a broker's license have him work for barclays and become millionaires and support terrorism this way about david cameron's government he's such a duplicitous shimada i mean here we have a people who are proven themselves good allude. you know out there are looting from the local stores for packs of cigarettes they're the perfect candidates to work at barclays and you say they need to go to the ghetto where the armband and be shuffled off into there forever goodnight where is the people who are living in barclays bank you somehow give them more subsidies and saying well these are the people that i believe are the good folks working to perpetuate the myth of greater british values and that we need to salute them i mean give give the people of break you speaking out of both sides of your mouth you're a horrible leader you subsidize terrorism just like tony blair subsidize terrorism

but saudi prince bandar if you recall the core of the have to subsidize them and the saudi prince said to tony blair in his office if you don't stop this a serious fraud investigation on me the can't guarantee another seven seven bus bombing well again max here it is the government of the u.k. david cameron's government is calling these poor people he's telling them you little poor people you on food stamps you're living in public housing you have dreadful backgrounds and because of this we're sending you to this camp where we're teaching you how to have respect for other people what has he done what is he doing to save the people from the dreadful backgrounds of bob diamond the dreadful backgrounds of jamie diamond jamie diamond has bankrupted montgomery county alabama he has destroyed several cities in italy he has destroyed the municipal bond market across america what about his dreadful background. sixty years ago david cameron

would call for ethnic cleansing now he's calling for getting rid of the dreadful background british clee so here's the next headline on this london self-regulatory system proved illusory in live or scandal as we know they were unable to self regulate again despite all of this long track record of banking cry. times there still self-regulating these poor people already living in a ghetto out in the middle of nowhere are sent a nanny for the respect as our who has to oversee them and spank them a paddle them every day david kotok who manages about two billion as the chief investment officer at cumberland investors in sarasota florida said as a company we now avoid london is tarnished passing the buck to others shirking responsibility and avoiding accountability characterizes the people at work there so this is the way cameron should be talking about not the poor people but the pity

people in the city of london. well absolutely i mean it's a regulatory cesspool that he believes is the key toward growth in the future by letting banks continue to rape and pillage as you as you've just described as obvious whether it is b.c. or barclays or any other of these financial serial terrorists and he of course it's ironic because of course he would be the one who would enjoy being paddled. now niall ferguson the harvard university professor who was there to apologize for all of donald rumsfeld's innovations and to countries around the world he is quoted in this article saying he warns the u.k. should be wary of imposing too many curbs on business financial services are the u.k.'s largest export he says and pay twelve percent of the country's tax receipts banks are on the receiving end of a raft of financial regulation that is killing their business model like bankers cause nine eleven bankers the next eleven and the nine eleven after that until they

get rid of the bankers here in trouble all right stacey lambert thanks so much for being on the guy's report thinking rates don't go in much more coming your way stay right there. you know sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realize that everything you thought you don't know i'm tom harpur welcome to the big picture.

welcome back to the kaiser report i'm max keyser time now to go to san francisco and talk with wolf richter of the testosterone pit where truth comes home to roost wolf is author of big like cascade into an odyssey and has been involved in business and finance for over twenty years wolf welcome to the kaiser report thank you for having me max it's all right wolf richter you recently wrote about the fact that the wine bubble has burst this is what caught my eye because a lot of these alternative markets and indexes are out there and they reflect different aspects of the economy and they're used to glean information about which way things are going in the wind index is probably not well understood now tell us about the wind bubble and then what these constant bubbles tell us about the overall global economy so to speak to the fact that we're into this cereal bubble economy right

a bubble or curs because it's too much money out there chase assets and so they plow into a new asset class like winds and we've china both of going on for ever so the chinese have become wealthy. servant central banks have printed lots of money and so one bubble after another occurred in two thousand and five it was winds that took off and they took off seriously these are. winds that are traded trade heavily so the five top brands of those are in the index and there's another index that has one hundred wines in it and they jump and they jump by joining fifty percent over several years and and these are wines that are used for for collecting for as an asset you don't drink these wines you put them in a refrigerated welton save them for ten years and you try to make lots of money selling them and so these wines reached their recent peak their all time high

probably. in june july last year and they have now collapsed by thirty three percent approximately it appears to continue right now ben bernanke the chairman of the federal reserve recently testifying was saying i always got clippings from editorials in two thousand and eight about the risk of inflation where did that go but if you look at that wide bubble you see clearly there is a hot money that chases indexes and markets around the world distorts it. in many cases causes complete mayhem in those underlying economies the results and dislocations misallocation and huge economic problems and then moves on to something else your thoughts well exactly and we don't count asset bubbles in our inflation figures so when we wind these collector wanting to and they buy two hundred percent that doesn't enter into the calculation of inflation that's an

increase in an asset price so it doesn't it's not figured into the numbers so when we have a two hundred percent uptick in one of these items that doesn't impact our weight if right so bernanke is printing money to save the banks and the money goes into wine it goes and as we see with the wind index it goes into fine art with hundreds of millions of dollars being paid for works of art it goes in the shadows in germany they're buying collectors cars the price of a mercedes collector car went from three hundred fifty thousand dollars five years ago to over a million dollars today so all bernanke and the central banks are doing is flooding the top one percent the top one percent in with asset increasing money printing and then he goes in for a congress and says well wages aren't up and people are starving in the street which i created and we're pushing them into ghettos so there's don't play ssion and

as we have seen with the collapse over. housing bubble in the united states and which jobs all the money that went into the markets actually haven't done anything for housing and it hasn't done anything for for the job market we've had a mild recovery in jobs just miniscule mild recovery after many many years of complete shock depression and if you look out here in california unemployment rate is still at double digits the official one the unofficial one is much higher and so all the money for buddying the markets hasn't done anything for the real economy but it has created lots of bubbles cascading around the world right and all that not only does it create bubbles but it creates the ability for market makers and bankers to artificially suppress prices of things that they don't want to go up in value as part of their overall market manipulations games we've seen with the

library scandal and of course interest rate suppression and manipulation around the world we see this of the energy prices price of oil is constantly being whipped around one hundred forty seven down to forty or fifty back over one hundred down to sixty purely for the benefit of the banks as the economist magazine calls these terrorists you recently have been writing about natural gas where endless money goes to die you say the price of natural gas has been below the cost of production for years so talk walk us through that well natural gas is in the united states is one of the few commodities that gas and experienced a bubble what has happened is a lot of money a lot of that free money that got printed was going to have to be invested and so part of why it got invested was natural gas drilling it cost a and over production of natural gas and then in a commodity that is essentially landlocked so doesn't overprotection it can't exported and the prices collapse well it collapsed

a long time ago several years ago and natural gas drilling is done with by. money generally so the banks have been willing to lend and that money has now evaporated it's capital destruction and the money is gone big gas is cheap elsewhere never produced and no. money to pay back those loans and the natural gas industry is now in complete disarray in the united states right and the loans the liabilities just build up on the balance sheets of the companies or the federal government are in the shadow banking system hundreds and trillions of dollars of the revenue and as long as they can manipulate interest rates and keep rates with negative interest rate policy zero percent interest rate policy it doesn't matter no matter how much manipulation there involves no matter how many people die as a result of burning the central bankers terrorism now let's talk about this endless money that's been flowing into the bond markets we see negative interest

rate policies on several islands around the world what money is going into bonds the die how do you see this wealth sacrifice playing out wolf well i have to watch in japan for close to twenty years and i think japan is different than any other place but it's also a model i think for many of the western economies and what we see there is a an effort by central banks to produce essentially free money so that their government can borrow endless amounts to run a. deficit i know i completely unsustainable so in japan for example but deficit has now reached where the debt the public debt has not reached two hundred thirty percent of g.d.p. and fifty three percent of anti a budget this year is part money and they can do that because their ten year bonds . are using right now below one percent so fourteen your money you get eight point

seven zero point eight percent return it's essentially free and so the government borrows essentially for free and that's why central banks do that. of course you can run forever at some point it's finished at some point it's over but in these a commodity brokers accounts of this m.f. global are now peregrine. when they run out of fraud to engage with on some superficial level they just still cost them money so peregrine has stolen two hundred million dollars m.f. global j.p. morgan stole over a billion dollars so you see that as a growing trend is just brokerage accounts of commodity brokers just stealing people's money as the ability to suppress interest rates using financial accounting trickery and terrorism plays out yeah unfortunately we have had this problem for a long time that. people if it's been stalled in the financial industry and governments have tried to put in some rules the rules have been watered down and

this is an ongoing issue so an issue in japan they had a pension fund collapse there with two billion dollars evaporating and it's an issue in europe it's an issue tonight states there is a lot of money out there and a lot of reckless people and it's usually the little people with small investments that end up holding the bag now it's amazing in the in the u.k. or america if somebody gets their garden gnomes stolen they'll report it to the police and shoot the guy dead but if you steal their million dollar pension they go well i guess is the market through it's ok i just i never it's just steal it all so it's in that stupidity arbitrage i would call it between not knowing the value of a garden gnome in a million dollar pension that the terrorists like bernanke the thrive now in london new york and chicago if they actually stop the fraud the theft of the larceny the

interest rate rigging the four during of documents the pilfering of client accounts . would how much of a hit to the economy would it take because fraud has become. the defacto business model certainly is an interesting question you know if you if you take fraud out of the economy it's like if you take the mafia out of italy's economy what would be left i mean how much of a hit would it be to the economy and. you know i don't know who has any numbers on that but it is part of the economy right now you've got economists between the italian mafia and the japanese debt ratios in the around the world that's the worst of all possible worlds but the political leaders want to get reelected based on their track record of creating this zombie a world economy that place is zero cost things like fukushima the drought in the in the u.s. the flooding or any other. related catastrophes that their response will for now

let's talk about france for a second france debt is yielding near zero they're about ready to go into the nerve the lowest ever will this prevent the collapse of french banks which are riddled with billions if not trillions of bad debts and think derivative contracts well if you give a bank enough money it essentially can't call ups and and that's what's been happening so far they have gotten lots of money from the central banks and if if there is enough money to back everything up if there's a crisis of confidence that money comes out and solves that crisis of confidence so . there has to be a point there's like that's why the u.s. banks didn't collapse because they got trillions of dollars and. it wasn't it wasn't tarp it was the fifth tarp is just peanuts though a seven hundred billion what the fed day was trillions in europe it's playing out

that way the french banks are already received it late last year earlier this year lots of money. and they. need to receive it if they need to in the german banks or something deutsche bank as. its leverage is probably the most leverage bank in europe in the open apps is a huge bank and of course the germans are very worried about deutsche bank and they will try to keep it afloat with free money right sixty one leverage at deutsche bank all right wolf richter that's all the time we have for the cause report thanks so much for coming on thank you very much all right that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert our thank my guests wolf richter of the testosterone pit going to send me an e-mail please do so at kaiser report at r t t v dot ru until next time max guys are playing by oh oh.